Background*

Mr. William Frederick Truscott, also known as Ted, serves as the President and Chairman of J. & W. Seligman & Co. Incorporated. Mr. Truscott has been the Chief Executive Officer of Global Asset Management of Ameriprise Financial Inc., since September 2012. He serves as Senior Vice President at various funds complex of Columbia Funds Series Trust II. He serves as the Chief Executive Officer of Global Asset Management at Ameriprise Financial Inc, Asset Management Arm. ... He has been Senior Vice President of Tri-Continental Corporation since November 7, 2008. Mr. Truscott serves as Senior Vice President and Trustee of Columbia Funds Trust III - Columbia Mid Cap Value Fund. He served as the Chief Executive Officer and President at Ameriprise Certificate Company from 2006 to August 14, 2012. Mr. Truscott served as the Chief Executive Officer of U.S. Asset Management and President at Annuities at Ameriprise Financial Inc., since May 2010. He served as the Chief Investment Officer at Ameriprise Financial Inc. and Ameriprise Financial Inc, Asset Management Arm since September 2001. He served as President of Advisory Hedged Opportunity Fund. He served as Acting President of Riversource Large Cap Value Fund since 2006. He served as Chairman of the Board, Chief Investment Officer, Chief/Principal Executive Officer, Acting President, President and Vice President of Riversource and Columbia Funds in Fund Complex. Mr. Truscott served as the President of US Asset Management at Ameriprise Financial Inc. from September 2005 to April 2010 and was responsible for management of its retail, institutional and owned-asset portfolios, including RiverSourceSM family of mutual funds, collective funds, institutional and retail separate accounts, and alternative investments. He led efforts to make substantial investments in asset management leadership, talent and infrastructure, resulting in Ameriprise's ability to deliver consistent, competitive investment performance in a wide range of retail and institutional portfolios. Mr. Truscott was also instrumental in coordinating Ameriprise Financial's acquisitions of Dynamic Ideas, LLC, RiverSource Investments' quantitative platform in Cambridge, Mass., and Threadneedle Investments. He served as a Senior Vice President at Atlantic Funds since May 2010. Mr. Truscott joined Ameriprise Financial in 2001 and served as its Chief Investment Officer from 2001 to April 2010 and also served as its Senior Vice President/Senior Vice President of U.S. Asset Management from 2001 to 2005. He served as the Chief Investment Officer at Zurich Scudder Investments, Americas from October 2000 to August 2001. Mr. Truscott served as Managing Director at Zurich Scudder Investments from January 1996 to October 2000. He served as the President and Chief Investment Officer at Columbia Management Investment Advisers, LLC from 2001 to April 2010. He served as Senior Vice President at Ameriprise Financial Inc. He served as a Credit Analyst and Banking Officer, Asia, Middle East and Africa Debt/Equity Portfolio Manager of Latin America, Chemical Bank from 1983 to 1992. Mr. Truscott has been Chairman of the Board at Columbia Management Investment Advisers, LLC since 2001. He served as Chairman of the Board and Chief Executive Officer of Columbia Management Investment Distributors, Inc. from 2008 to April 2010. He has been an Interested Trustee of Columbia Frontier Fund Inc. since November 2001. He serves as a Board Member of Kenwood Capital Management LLC. Mr. Truscott serves as a Director of American Express Asset Management International Inc. He has been a Director of Columbia Management Investment Distributors, Inc. since May 2010. He has been a Director of Tri-Continental Corporation since November 07, 2008, and Ameriprise Financial Inc., since 2006. He is on the Board of Governors of The Investment Company Institute (ICI). He served as Director and Trustee of Riversource. He has been an Interested Trustee at various Funds of Columbia Funds Series Trust since May 2010. He served as a Director of Riversource Life Insurance Company. He served as a Director of Ameriprise Certificate Company from 2006 to August 14, 2012. Mr. Truscott received an M.B.A. in Finance from New York University and a B.A. in East Asian Studies from Middlebury College.

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